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515 Nebraska Ave 8 Unit Apartment Building $799,900 ($99,988/Unit) West Plains, MO 65775
INVESTMENT HIGHLIGHTS
- Fully Remodeled 7-Unit Apartment Complex - one or two bedroom apartment with appliances
- Owner pays utilities and property tax
- Strong Income Producer with estimated 9.5% cap rate
EXECUTIVE SUMMARY
For Sale – Income-Producing Multi-Unit Property in West Plains, MO!
Prime Investment Opportunity in Howell County
Discover a brand-new multi-family investment property at 515 Nebraska Street, West Plains, MO! This former church has been fully converted into eight modern apartments, offering high-quality finishes, excellent location, and strong income potential.
Property Features (Largest to Smallest Units):
One (1) unit – 850 sq. ft. | 2 Bed / 2 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
Four (4) units – 600 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
Two (2) units – 550 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
One (1) unit – 450 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
Spacious parking lot and outdoor green space
Situated on a .48-acre lot in a quiet neighborhood
Prime Location – High Rental Demand!
Property Highlights:
• Fully remodeled 7-unit apartment complex – turnkey and like new
• Strong income producer with estimated 9.5%cap rate
• Units include one 2-bed unit ($1,200/month), four 1-bed units ($1,000/month), and one small unit ($959/month)
• Seventh unit is an active Airbnb generating approximately $21,900/year at $80-$125/night
• Gross annual rental income: approximately $95,800
• Net Operating Income (NOI): approximately $76,000
• All units include appliances
• Owner pays utilities and property taxes
• Includes Airbnb management potential or option to convert to long-term rental
• Excellent investment opportunity with low maintenance and high demand rental units
• Priced at $799,900 – potential for upside depending on rental mix
Located in West Plains, Missouri, this property is just minutes from:
Missouri State University - West Plains
Downtown West Plains
Ozarks Healthcare
Restaurants, shopping, and essential amenities
Turnkey Investment – Strong ROI Potential
New Construction – Modern Features
Fully Income-Producing or Investment Opportunity
Annual Property Tax: $2,000
Annual Insurance: $2,000
Each unit has separate electric, water, and internet connections
This multi-family property for sale in Howell County, Missouri, is an excellent addition to any real estate portfolio. Whether you’re looking for a turnkey rental investment or an income-generating property, this one checks all the boxes!
?? Call today to schedule a showing or for more details!
Prime Investment Opportunity in Howell County
Discover a brand-new multi-family investment property at 515 Nebraska Street, West Plains, MO! This former church has been fully converted into eight modern apartments, offering high-quality finishes, excellent location, and strong income potential.
Property Features (Largest to Smallest Units):
One (1) unit – 850 sq. ft. | 2 Bed / 2 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
Four (4) units – 600 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
Two (2) units – 550 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
One (1) unit – 450 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
Spacious parking lot and outdoor green space
Situated on a .48-acre lot in a quiet neighborhood
Prime Location – High Rental Demand!
Property Highlights:
• Fully remodeled 7-unit apartment complex – turnkey and like new
• Strong income producer with estimated 9.5%cap rate
• Units include one 2-bed unit ($1,200/month), four 1-bed units ($1,000/month), and one small unit ($959/month)
• Seventh unit is an active Airbnb generating approximately $21,900/year at $80-$125/night
• Gross annual rental income: approximately $95,800
• Net Operating Income (NOI): approximately $76,000
• All units include appliances
• Owner pays utilities and property taxes
• Includes Airbnb management potential or option to convert to long-term rental
• Excellent investment opportunity with low maintenance and high demand rental units
• Priced at $799,900 – potential for upside depending on rental mix
Located in West Plains, Missouri, this property is just minutes from:
Missouri State University - West Plains
Downtown West Plains
Ozarks Healthcare
Restaurants, shopping, and essential amenities
Turnkey Investment – Strong ROI Potential
New Construction – Modern Features
Fully Income-Producing or Investment Opportunity
Annual Property Tax: $2,000
Annual Insurance: $2,000
Each unit has separate electric, water, and internet connections
This multi-family property for sale in Howell County, Missouri, is an excellent addition to any real estate portfolio. Whether you’re looking for a turnkey rental investment or an income-generating property, this one checks all the boxes!
?? Call today to schedule a showing or for more details!
PROPERTY FACTS
| Price | $799,900 | Building Class | C |
| Price Per Unit | $99,988 | Lot Size | 0.50 AC |
| Sale Type | Investment | Building Size | 5,560 SF |
| No. Units | 8 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1972 |
| Apartment Style | Low-Rise | Parking Ratio | 5.58/1,000 SF |
| Zoning | R-3 | ||
| Price | $799,900 |
| Price Per Unit | $99,988 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 5,560 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 5.58/1,000 SF |
| Zoning | R-3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Range
- Tub/Shower
- Deck
- Quartz Countertops
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | 450 - 2,400 |
| 2+2 | 1 | - | 850 |
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PROPERTY TAXES
| Parcel Number | 15-4.0-20-004-014-002.01000 | Improvements Assessment | $35,950 |
| Land Assessment | $9,830 | Total Assessment | $45,780 |
PROPERTY TAXES
Parcel Number
15-4.0-20-004-014-002.01000
Land Assessment
$9,830
Improvements Assessment
$35,950
Total Assessment
$45,780
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